Four years ago, McGrath joined GTCR, a leading private equity firm focused on investing in the financial services, technology and health care sectors, after rising through the legal ranks in seven years at Sara Lee Corp., where he served as general counsel, following a six-year stint polishing his transactional chops at Latham & Watkins LLP.

While McGrath arrived at GTCR a seasoned general counsel, the private equity industry was a new milieu. However, he quickly took to the intensity and variety of the work, seizing on the business issues as well as the legal complexities of an exceedingly dynamic sector.

“It is an important, challenging and fun job,” McGrath said. “I get home amazed at the amount and array of work that fits into the day.”

With a solid background in mergers and acquisitions and corporate law, McGrath has proven himself a lawyer of many knacks, possessing the versatility as well as the energy needed to flourish in private equity.

As general counsel, the demands vary daily if not hourly. Backed by an associate general counsel and a paralegal, McGrath is absorbed in virtually every aspect of the private equity business, from building billion-dollar funds to hiring outside counsel, keeping tabs on investments and adapting to watershed regulations.

“I spend a great deal of time on fund formation and administration, working with our limited partners and management team, all the while providing deal support, overseeing GTCR’s compliance program, handling administrative and [human resources] matters, and attending to our portfolio companies,” McGrath said. “The phone never stops ringing.”

Had he stayed at an elite firm, McGrath would have honed a narrow expertise and mastered one complex facet of law. The general counsel route, however, requires total identification with the company, business acumen and an ever-expanding legal proficiency.

“It’s much different being intimately connected with a business beyond the pure legal capacity and completely investing yourself in the enterprise,” McGrath said.

McGrath’s myriad talents have been tested this year. GTCR has been on a tear, acquiring insurance broker Neace Lukens in September, financial services and banking software company BServ Inc., or BankServ, in August for $300 million, and closing on the $675 million acquisition of Sterigenics in March, among numerous other deals.

The surge in deals stems from the February closing of a $3.25 billion fund, GTCR’s 10th.

With all the fundraising and deal-making, McGrath has devoted himself to not only monitoring and facilitating the transactions but selecting the right outside attorneys for the job.

As general counsel, McGrath has become a discriminating customer, and seeks out the best lawyers on a task-by-task basis. He ends up picking attorneys who combine authoritative knowledge of the field with a particular verve for the work.

“There are a great number of very smart and talented lawyers, but when I’m looking for outside counsel, I want lawyers with a very creative and proactive business sense,” McGrath said.

“That’s what distinguishes the good attorneys from the great attorneys. I want to work with a lawyer with the know-how to best structure a transaction as well as the creativity to respond when it morphs and evolves,” he said.

While general counsel were scarce in the private equity space only 10 years ago, they have quickly proven their value to firms and are now a business necessity, especially with the incoming tide of regulation, McGrath said.

Private equity has long had strong ties to the legal industry, but outside counsel is less suited to address many pressing aspects of private equity business, like internal governance, partner relationships and regulatory compliance, said McGrath, who also oversees the personnel issues for a firm now 80 people strong.

General counsel has never been more valuable to private equity firms. Not only is an in-house lawyer best at addressing management issues, corresponding with institutional investors and steering hires, but the new registration requirements under the Dodd–Frank Wall Street Reform and Consumer Protection Act put a greater premium on the position.

Rolling out and implementing calibrated compliance programs is a painstaking process best overseen by a lawyer with a granular understanding of the business as well as the new rules, McGrath said.

Even with the turbulent market, the regulatory requirements, emerging technologies, warming deal environment and partnership dynamics of private equity are making general counsel increasingly indispensable to the firms they serve.

Moreover, its seems general counsel, the decathletes of the legal field, might soon find themselves adding to their repertoire.

“It’s a ripe environment for buyers as well as sellers, particularly in some of our core focus areas like health care, financial services and technology,” McGrath said. “GTCR is having a banner year, and I eagerly expect my life to get even busier as we continue to excel.”

–Editing by Christie Smythe and John Williams.

October 26, 2011 (New York, NY) – Global M&A Network announced the winners of the annual Americas M&A Atlas Awards last night at The Harvard Club of New York City. GTCR, a leading private equity firm, earned the top honor of “Private Equity Firm of the Year – North America.” Stephen Jeschke, GTCR Vice President, accepted the award on behalf of the firm.

“The past year has been a truly exciting and invigorating one for GTCR,” said Jeschke. “Not only did we raise a $3.25 billion fund in just under seven months, we have continued to partner with world class leaders too – in our case, to grow and transform businesses to be the best in their industries. This award is recognition of the firm’s exemplary work.”

As part of their mission, the Global M&A Network brings together world class leaders to facilitate discussion and debate of the most relevant ideas in and around the industry. This year, the Global M&A Network team evaluated 604 eligible deals, of which 196 were finalists across 38 unique categories. GTCR was selected as “Private Equity Firm of the Year” from among 10 firms.

Winners are selected independently, evaluated based on identifiable performance criteria, which for Private Equity Firm of the Year – North America included: (1) Notable transactions completed in the previous 12 months including transactions by portfolio companies in North America; (2) Focused buyout strategy in North America; (3) Post buyout value creation; (4) Dedicated team presence in North America.

Mr. Cohen joined GTCR in 2003 as an Associate and became a Vice President in 2004. During his tenure, he has played an instrumental role in many successful investments including Prestige Brands. He is currently on the boards of AssuredPartners, BankServ, Ironshore and Protection 1. Cohen holds a BS in Accountancy with high honors from the University of Illinois at Urbana-Champaign and is a CPA.

Mr. Cunningham joined GTCR in 2001 and became a Vice President in 2005. He has played an instrumental role in several of the firm’s prior investments including Ovation Pharmaceuticals. He is currently on the boards of Devicor Medical Products and Sterigenics.  Cunningham holds an MBA from the Wharton School at the University of Pennsylvania as well as AB and BE degrees in Engineering Sciences from Dartmouth College.

Chicago, IL  – September 20, 2011 – GTCR, a leading private equity firm, announced today that AssuredPartners, Inc., a GTCR portfolio company, has acquired Neace Lukens, a Louisville, Kentucky-based insurance agency.  Neace Lukens is the 24^th largest private insurance broker in the U.S.* with $88 million annual revenue and over 150 licensed agents and 500 employees focused on property and casualty insurance, employee benefits and risk management solutions.

The acquisition of Neace Lukens marks the first transaction for AssuredPartners.  The acquisition provides AssuredPartners with a national insurance brokerage platform and strategic asset that can be leveraged through additional acquisitions in the property and casualty insurance and employee benefits brokerage space.  Neace Lukens will continue to operate under the same name.

“The transaction is the key first step for AssuredPartners in achieving their objective of building a leading national insurance brokerage firm,” said GTCR Principal, Dave Donnini. “We’re excited to partner with John Neace in this transaction.  GTCR remains committed to providing the resources to support both Neace Lukens’ and AssuredPartners’ growth, both organic and through continued acquisitions. ”

“This inaugural deal sets the course for AssuredPartners’ long-term vision to provide capital and growth support to property and casualty and employee benefits brokerage firms across the U.S.,” added Jim Henderson, chairman and chief executive officer of AssuredPartners. “Our partnership will equip Neace Lukens with additional financial means to expand its footprint nationally, and Neace Lukens’ strong market position will help us pave the way toward additional partnerships and investments in the insurance industry.”

“Since Joe Lukens and I founded the company in 1991, Neace Lukens has been poised for continued future growth due to our comprehensive product offerings, quality service and strong customer and carrier relationships,” says Neace Lukens chairman and founder John Neace.  “Our new partnership with AssuredPartners will allow us to take our company to the next level by making us more competitive in the marketplace while allowing us to expand and add more talented employees in the future.”

About AssuredPartners
AssuredPartners Inc., headquartered in Lake Mary, Florida, acquires and invests in property and casualty and employee benefits brokerage businesses across the country.  Jim Henderson can be contacted at (407) 708-0029 or jhenderson@assuredptr.com.  Tom Riley can be contacted at (407) 708-0027 or triley@assuredptr.com.  For more information, please visit www.assuredptr.com.

About Neace Lukens
Neace Lukens, founded in 1991, has more than 150 licensed agents and more than 500 employees operating in 22 offices throughout Kentucky, Ohio, Indiana, Illinois, Michigan, Tennessee, Arizona, Georgia, Arkansas, Florida and South Carolina. Neace Lukens corporate headquarters is located in Louisville, Kentucky, at 2305 River Road. For more information, please visit www.neacelukens.com.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries.  The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth.  Since its inception, GTCR has invested more than $8.5 billion in over 200 companies.  For more information, please visit www.gtcr.com.

*As ranked by Business Insurance magazine, published by Chicago-based Crain Communications, Inc., which provides information for business executives who are responsible for the purchase and administration of corporate insurance and self-insurance programs.

CHICAGO, IL – September 14, 2011 – GTCR, a leading private equity firm, today announced that, following completion of its due diligence and negotiations with Fundtech Ltd. (“Fundtech”), it has submitted a proposal to acquire Fundtech, a leading provider of transaction banking software and services to financial institutions, for $23.33 in cash for each Fundtech ordinary share (the “GTCR Proposal”).  GTCR intends to combine Fundtech and BankServ, a GTCR portfolio company, creating a global leader in the growing market for payments and banking technology delivered to financial institutions and corporations.

Fundtech’s Board of Directors has determined that the GTCR Proposal constitutes a “Company Superior Offer” under Fundtech’s previously announced merger agreement with S1 Corporation (“S1”).  Fundtech has delivered the required notice to S1 of its intent to change its recommendation in favor of the merger with S1 and to terminate the S1 merger agreement and enter into a written definitive agreement relating to the GTCR Proposal, subject to the terms of the S1 merger agreement, including S1’s right to propose within five business days changes to the S1 merger agreement if applicable.  The GTCR Proposal contemplates that Fundtech’s largest shareholder, Clal Industries and Investments Ltd., which currently owns approximately 58% of the ordinary outstanding shares of Fundtech, would vote in favor of the transaction.  Subject to receipt of Fundtech shareholder approval and satisfaction of other conditions, the transaction would be expected to close in the fourth quarter of 2011.

Fundtech is a leading global provider of software solutions and services that facilitate payments processing, financial messaging and cash management for more than 1,000 financial institutions in more than 70 countries.  BankServ is a leading U.S. SaaS (software-as-a-service) provider of financial services and banking technology that offers wire transfer, SWIFT messaging, remote deposit capture, mobile and online payment processing technology to over 500 financial institutions and corporations.  The combined company would be a global industry leader in payments and banking technology with a comprehensive suite of solutions serving the needs of financial institutions and corporations around the world.

The combined company, Fundtech, Inc., would have its headquarters at Fundtech’s U.S. headquarters in Jersey City, New Jersey.  Reuven Ben Menachem, founder and Chief Executive Officer of Fundtech Ltd, would serve as Chief Executive Officer of Fundtech Inc.  David Kvederis, founder and Chief Executive Officer of BankServ, would support the integration of BankServ and Fundtech as a member of Fundtech Inc.’s Board of Directors.  Management from both predecessor companies would participate in the future growth and success of the combined business.

“Fundtech is a premier financial technology franchise, and combining these two complementary companies would create an industry leader in the growing market for innovative banking technologies and electronic corporate payments,” said Collin Roche, GTCR principal. “Together, these businesses would participate in all segments of the global market with best-of-breed technologies and a broad product offering.  Existing customers can expect the continuation of excellent technology and service quality that is a benchmark of each of these companies.”

“GTCR’s extensive experience investing in payment processing and banking-related businesses makes them a strong partner to support the continued growth of Fundtech,” said Reuven Ben Menachem, CEO of Fundtech.  “We remain committed to delivering best-in-class technology and innovative solutions to serve the needs of our customers around the world, and a partnership with GTCR would allow us to accomplish that goal.”

“We are excited to have the opportunity to partner with Reuven Ben Menachem and the combined management teams to continue building a leading financial technology company,” said Aaron Cohen, GTCR vice president.  “We expect the combined company to continue its investment in technology and service offerings for global growth, supplemented by selective acquisitions.”

Skadden, Arps, Slate, Meagher & Flom LLP and Herzog, Fox & Neeman served as legal counsel to GTCR.  Moelis & Company, RBC Capital Markets and BMO Capital Markets served as financial advisors to GTCR.  Royal Bank of Canada, BMO Capital Markets and Newstone Capital Partners provided debt financing in connection with the proposed transaction. GTCR’s proposed investment in Fundtech will be made from GTCR Fund X, a private equity fund raised in 2011 with $3.25 billion of committed capital.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Fundtech
Fundtech (NASDAQ: FNDT), was founded in 1993, and is a leading provider of software and services to banks of all sizes around the world. Payments systems include wire transfers, ACH origination, cross-border payments and remittance. Cash management systems are designed for large corporate through small business clients. Fundtech operates the world’s largest SWIFT service bureau. Fundtech offers an extensive line of financial supply chain applications including electronic invoice presentment and supply chain financing. Fundtech is the leading provider of CLS systems to the world’s largest banks. More than 1,000 clients throughout the world rely on Fundtech solutions to improve operational efficiency and provide greater competitiveness through innovative business-to-business services. For more information, visit www.fundtech.com.

About BankServ
Founded in 1996, BankServ develops SaaS-based payment systems used by banks and corporations to transfer money quickly and efficiently around the world. The company’s product lineup includes systems for wire transfers, SWIFT messaging and connectivity, remote deposit capture, online payments, mobile banking and more. Headquartered in Las Vegas, BankServ has offices in San Francisco, Salt Lake City and London. For more information, visit www.bankserv.com.

Chicago-based GTCR has one of the most prolific heritages in
all of private equity, dating back to the 1980s. As the firm begins
to deploy its tenth and largest fund, chairman Bruce Rauner is in
the process of handing over leadership to the next generation of
principals. Graham Winfrey meets Phil Canfield and Collin Roche,
two of the three heirs to the throne…

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Stamford, CT – August 29, 2011 ─ Aligned Asset Managers, LLC (“Aligned”), a portfolio company of leading private equity firm GTCR, today announced it has acquired a majority interest in The Townsend Group (“Townsend”).  Townsend, established in 1983, is the largest global specialty real estate advisory and investment firm, with over $100 billion of total advised assets.  Townsend allocates real estate capital on a discretionary and non-discretionary basis for over 85 leading institutional clients from offices in Cleveland, London, San Francisco, and Hong Kong.

“Townsend represents the ideal platform investment for Aligned,” says David Minella, CEO of Aligned.  “It embodies our strategy of focusing on industry leaders in growing asset classes, and we look forward to helping Townsend build on its strong track record and deep relationships with a world-class institutional investor base.”

Townsend’s existing leadership team will maintain responsibility for management of the business. The transaction will broaden Townsend’s employee ownership base, and management will continue to own a material stake in the company. Led by its founding partners, Terry Ahern and Kevin Lynch, Townsend has a deep team of 32 seasoned senior real estate professionals who average more than 15 years of experience.  All members of the management team will remain with the firm upon completion of the transaction.

“We are pleased to partner with Aligned,” says Terry Ahern, Townsend’s co-founder and CEO. “Aligned is an ideal partner for Townsend as we continue to expand the specialized real estate advisory capabilities we offer our clients across a global platform.”

Aligned was formed in January 2011 when GTCR partnered with David Minella.  Mr. Minella was formerly CEO at Value Asset Management and CEO of Lichtenstein Global Trust.  Aligned was formed to build a leading multi-strategy asset management platform through substantial equity investments in firms across attractive, growing asset classes.  Aligned is currently engaged in discussions with several leading asset management firms and in building out a business development capability.

The terms of the transaction, which is expected to close upon receipt of customary regulatory approvals and other customary closing conditions, were not disclosed.  Kirkland & Ellis LLP served as legal counsel and Ernst & Young served as accounting advisor to Aligned.  Baker & Hostetler LLP served as legal counsel to Townsend.

About Aligned Asset Managers
Aligned Asset Managers, headquartered in Stamford, Connecticut, is a financial services holding company focused on the asset management sector.  For more information about Aligned, contact James Cahill at 203-938-9924 or jcahill@alignedam.com or visit Aligned’s website at www.alignedam.com.

About The Townsend Group
The Townsend Group is a leading provider of real estate and real asset investment solutions to institutional investors globally.  Started in 1983 in Cleveland, Ohio, Townsend has grown into a global platform managing or advising investor interests in excess of $100 billion for investors including: sovereign wealth funds, pension plans, foundations and endowments and other sophisticated investors.  Press inquiries regarding Townsend should be directed to Joe Olszak at 216-781-9090 or jolszak@townsendgroup.com.  For more information, please visit www.townsendgroup.com.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.

Devicor previously provided distribution and marketing services to Neoprobe for the GDS portfolio. Financial terms of the agreement included $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale was approved by Neoprobe’s shareholders on August 15.

“We are excited to complete this agreement with Neoprobe and believe this is a significant step toward our goal of building a market leading medical device business,” says Devicor CEO Tom Daulton. “We look forward to welcoming to Devicor all of the dedicated Neoprobe employees responsible for this growing product portfolio, as we plan to expand the business further through our global direct sales platform and additional R&D investment.”

The acquisition of the neoprobe® GDS line comes approximately a year after Devicor’s acquisition of Ethicon Endo-Surgery’s (EES) Breast Care business, Mammotome, which sells products designed to help doctors detect and diagnose breast cancer. GTCR invested additional equity capital in Devicor to finance a portion of the purchase price of the neoprobe® GDS assets.

“The funding of additional equity capital by GTCR to support our growth is an excellent example of the strong partnerships GTCR forms with management teams to acquire and expand successful companies in healthcare and other industries,” says Jonathan Salkin, Devicor’s Executive Vice President of Corporate Development & Strategy.

The Mammotome® product portfolio is sold in 50 countries around the world and includes the Mammotome® Breast Biopsy System as well as tissue markers for breast disease diagnostic sampling and management. Mammotome has distributed and marketed Neoprobe’s line of gamma detection systems since 2000, as part of EES and then continuing as part of Devicor.

About Devicor® Medical Products, Inc.
Devicor, the parent corporation of Mammotome, is a fast-growing global company dedicated to acquiring and growing healthcare companies. With an initial focus on the breast cancer market, the company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit www.devicormedical.com.

Mammotome, headquartered in Sharonville, Ohio, has more than 300 employees around the globe. The company is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome® product portfolio includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used in breast disease diagnostic sampling and management. Since its introduction in 1995, more than 3.4 million women have had a minimally invasive breast biopsy in stereotactic, ultrasound or MRI-guidance imaging using the Mammotome® Biopsy System. For more information, please visit www.mammotome.com.

About Neoprobe Corporation
Neoprobe is a biomedical company focused on enhancing oncology patient care and improving patient benefit. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek® and RIGScanTM CR.  Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. For more information, please visit www.neoprobe.com.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.